IPG Investment Advisors LLC Trims Position in Paramount Global (NASDAQ:PARA)

IPG Investment Advisors LLC reduced its holdings in Paramount Global (NASDAQ:PARA) by 35.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 556,200 shares of the company’s stock after selling 306,576 shares during the period. Paramount Global comprises 1.3% of IPG Investment Advisors LLC’s holdings, making the stock its 21st biggest position. IPG Investment Advisors LLC’s holdings in Paramount Global were worth $5,848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in Paramount Global during the 3rd quarter worth about $117,000. Daiwa Securities Group Inc. grew its holdings in Paramount Global by 26.5% during the third quarter. Daiwa Securities Group Inc. now owns 71,874 shares of the company’s stock worth $763,000 after acquiring an additional 15,053 shares during the period. Fisher Asset Management LLC grew its holdings in Paramount Global by 88.4% during the third quarter. Fisher Asset Management LLC now owns 21,723 shares of the company’s stock worth $231,000 after acquiring an additional 10,192 shares during the period. Bridgewater Associates LP lifted its holdings in Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after acquiring an additional 110,357 shares during the period. Finally, Glenmede Trust Co. NA purchased a new stake in Paramount Global in the 3rd quarter worth approximately $127,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Down 1.0 %

NASDAQ PARA opened at $11.56 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The business’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $10.89. The firm has a market cap of $7.71 billion, a PE ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. Paramount Global’s dividend payout ratio is currently -2.15%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PARA shares. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim restated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Finally, StockNews.com began coverage on Paramount Global in a research note on Sunday. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.10.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.